01:32 PM EDT, 08/07/2025 (MT Newswires) -- Financial stocks were decreasing in Thursday afternoon trading, with the NYSE Financial Index down 0.8% and the Financial Select Sector SPDR Fund (XLF) falling 1.2%.

The Philadelphia Housing Index was shedding 0.2%, and the Real Estate Select Sector SPDR Fund (XLRE) was fractionally lower.

Bitcoin (BTC-USD) was increasing 1.1% to $116,470, and the yield for 10-year US Treasuries was rising 3 basis points to 4.25%.

In economic news, initial jobless claims rose to 226,000 in the week ended Aug. 2 from an upwardly revised 219,000 in the previous week, compared with expectations for 222,000 in a survey compiled by Bloomberg.

Consumer expectations for one-year US inflation growth rose to a 3.1% gain in July from a 3.0% gain in the previous month, according to a survey released by the New York Federal Reserve Bank on Thursday.

In Federal Reserve news, Governor Christopher Waller is emerging as a top candidate to serve as the central bank's chair among President Donald Trump's advisers as they look for a replacement for Jerome Powell, Bloomberg reported.

In other news, Trump is expected to sign an executive order Thursday to allow 401(k)s to invest in alternative assets such as private equity, real estate and cryptocurrency, CNBC reported, citing a senior White House official.

In corporate news, Prudential Financial's ( PRU ) Assurance IQ was ordered to pay $100 million to settle US Federal Trade Commission charges that the company deceptively marketed health insurance plans and unfairly charged consumers without their consent, the FTC said Thursday. Prudential shares were falling 3.1%.